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Search Minerals Clarifies Timing for TSX Venture Exchange Reinstatement to Trading and Share Consolidation
Newsfile· 2025-06-13 21:38
Group 1 - Search Minerals Inc. will reinstate its common shares for trading on the TSX Venture Exchange at market open on June 16, 2025 [1] - The consolidation of shares will occur on a basis of one post-consolidation share for every ten pre-consolidation shares, effective at market open on June 17, 2025 [1] Group 2 - Search Minerals is focused on exploring and developing Critical Rare Earth Elements (CREE) and transition metals such as Zirconium (Zr) and Hafnium (Hf) in the Port Hope Simpson - St. Lewis CREE District of South-East Labrador [2] - The company controls two deposits (Foxtrot and Deep Fox) and two drill-ready prospects (Fox Meadow and Silver Fox), along with several other CREE prospects in a 64-kilometer long belt [2] - Additional CREE assets are located in the Red Wine CREE District of central Labrador, including the drill-ready Two Tom Lake CREE-Be-Nb deposit and other prospects [3]
Search Minerals Announces Corporate Update Including TSX Venture Exchange Reinstatement to Trading, Financing, Share Consolidation and AGM
Newsfile· 2025-06-12 18:29
Corporate Update - Search Minerals Inc. has announced a corporate update including the reinstatement of trading on the TSX Venture Exchange (TSXV) expected around June 17, 2025 [4] - The company faced a cease trade order (CTO) due to failure to file annual audited financial statements for the year ended November 30, 2023 [2][3] - A new Board of Directors was elected on June 21, 2024, to address management issues and has since worked to remedy the company's situation [3] Financial Position - The company's interim financial statements for the three months ended February 28, 2025, show a working capital deficiency of $5,282,051 [6] - The deficiency is primarily due to accounts payable and accrued liabilities totaling $2,885,836 and other debts [7] - The company plans to seek financing through a private placement to return to a positive working capital position [11] Financing and Debt - Search Minerals intends to conduct a non-brokered private placement to raise approximately $12 million, with each unit consisting of one share and one warrant [11] - The company has entered into a loan agreement for an unsecured loan of $750,000 to support its operations [16][17] - The loan bears an interest rate of 15% per annum and is payable by August 30, 2026, or upon closing of any financing exceeding $2.5 million [17] Share Consolidation - The company plans to consolidate its shares on a basis of ten pre-consolidation shares for one post-consolidation share, reducing the number of outstanding shares from approximately 417.99 million to about 41.80 million [18][19] - The consolidation is expected to take effect on or about June 17, 2025 [18] Annual General Meeting - The company intends to hold its annual general meeting on July 24, 2025, to comply with TSXV Policy 3.1 [25] - The last annual meeting was held on May 25, 2022, and the company has not been in compliance since then [23][24] Management Changes - The new Board appointed Joseph Lanzon as CEO and Greg Andrews as CFO and Corporate Secretary, although Andrews resigned later [27] - The company is currently not in compliance with TSXV Policy 3.1 regarding management structure and audit committee requirements [26][27]
Nine Mile Metals Receives NBJMAP Exploration Grant for California Lake East VMS Project
Newsfile· 2025-06-12 13:25
Core Viewpoint - Nine Mile Metals Ltd. has received a $40,000 grant from the New Brunswick Department of Natural Resources and Energy Development to support exploration on the California Lake East VMS Project [1][4]. Exploration Plans - The company submitted a proposal in April 2025 for specific exploration on the California Lake East VMS Project, where previous drilling in 2022 confirmed the presence of a VMS system [2]. - Planned exploration will focus on the stratigraphic horizon and EM strong late-time conductors, with ground-based geophysics to define prioritized drill targets [2][6]. - Target 6 has been identified as a high-priority new target, potentially the source of the previously successful VMS drill program at Target 8 [2][8]. Support and Community Engagement - The New Brunswick government continues to support the mining community in the Bathurst Mining Camp through the Junior Mining Assistance Program, which funds projects of high interest [4]. - The company expresses gratitude for the ongoing support from the New Brunswick Department of Natural Resources and the local mining community [8]. Company Overview - Nine Mile Metals Ltd. is focused on Critical Minerals VMS exploration in the Bathurst Mining Camp, with projects including Nine Mile Brook, California Lake, Canoe Landing Lake, and Wedge VMS Projects [9]. - The company aims to position itself for the demand in EV and green technologies, which require critical minerals such as Copper, Silver, Lead, and Zinc, while also having a hedge on Gold [9].
Callinex Received 2-Year Exploration Permit for Pt. Leamington Project, Newfoundland
Globenewswire· 2025-06-12 12:30
Core Viewpoint - Callinex Mines Inc. has received a two-year exploration permit for its Pt. Leamington Project, allowing for immediate exploration activities aimed at expanding the existing mineral resource and testing new targets [2][3][8]. Company Overview - Callinex Mines Inc. is focused on advancing its portfolio of base and precious metals deposits in established Canadian mining jurisdictions, with a significant emphasis on the Pt. Leamington Deposit in Newfoundland [9]. Exploration Permit Details - The exploration permit is valid until June 2027 and enables ground geophysics and diamond drilling at the Pt. Leamington VMS Deposit [3][8]. - Additional exploration permits have been submitted for a planned 2025 surface field exploration campaign, which includes prospecting, geological mapping, and geochemical rock sampling [3][8]. Project Specifications - The Pt. Leamington Project is located approximately 37 km from Grand Falls-Windsor and 20 km from the provincial power grid, featuring a large VMS deposit with a strike length of 500 m and a maximum thickness of 85 m [5]. - The project has an Indicated Mineral Resource of 5.0 million tonnes grading 2.5 g/t AuEq, equating to 402,000 ounces of AuEq, and an Inferred Mineral Resource of 13.7 million tonnes grading 2.24 g/t AuEq, equating to 986,500 ounces of AuEq [5][9]. Exploration Plans - An exploration campaign is anticipated to begin in Q3 2025, focusing on expanding the current resource base and refining targets generated from airborne electromagnetic anomalies [4][6][8]. - The company has identified several untested geophysical anomalies within favorable geological units for further exploration [6]. Government Support - The streamlined permitting process reflects strong government and local support for mining activities in Newfoundland, enhancing the region's reputation as a tier one mining jurisdiction [4][8].
Vortex Energy Announces Plans to Complete an Ambient Noise Tomography Survey at the Robinsons River Salt Project
Globenewswire· 2025-06-12 12:00
Vortex Energy Plans Geophysical Survey at Robinsons River Salt Project to Assess Hydrogen Storage PotentialVANCOUVER, British Columbia, June 12, 2025 (GLOBE NEWSWIRE) -- Vortex Energy Corp. (CSE: VRTX) (OTC: VTECF) (FSE: AA3) (“Vortex” or the “Company”) is pleased to announce plans for a detailed geophysical survey at its flagship Robinsons River Salt Project (the “Project”) in Newfoundland. This marks the start of summer exploration activities that are focused on evaluating the project’s suitability for la ...
Integral Metals Announces Completion of High-Resolution Soil Sampling Program at the KAP Project
Globenewswire· 2025-06-12 12:00
Core Viewpoint - Integral Metals Corp. has successfully completed its Phase 2 high-resolution soil sampling program at the KAP Project, enhancing drill targeting for its 2025 exploration campaign [1][3]. Group 1: Exploration Program Details - The Phase 2 soil sampling program involved a 30-meter by 30-meter grid across the Main Zone, with samples collected from 2,021 unique sites, totaling 2,163 samples prepared for laboratory submission [2]. - Quality control measures included the insertion of certified reference materials at a ratio of 1 in 20 and field duplicates at a rate of 1 in 50 [2]. - The sampling grid was designed to systematically test the area surrounding the Main Zone, integrating results from previous fieldwork and known gravity anomalies [3]. Group 2: Company Objectives and Future Plans - The KAP Project is prospective for MVT-style lead-zinc mineralization enriched with gallium and germanium, which remains a core priority for the company in 2025 [3]. - The completion of the high-resolution program is considered a key milestone for the company's exploration season, expected to significantly improve geochemical targeting and drill planning [3]. Group 3: Company Background - Integral Metals Corp. is engaged in mineral exploration for critical minerals, including gallium, germanium, and rare earth elements, aiming to contribute to the development of a domestic supply chain for these minerals [7]. - The company holds properties in mining-friendly jurisdictions in Canada and the United States, including the Northwest Territories, Manitoba, and Montana [7].
Lancaster Resources Inc. Expands Exploration in Quebec’s James Bay with Lac Iris Polymetallic Project Acquisition
Globenewswire· 2025-06-12 12:00
VANCOUVER, British Columbia, June 12, 2025 (GLOBE NEWSWIRE) -- Lancaster Resources Inc. (CSE:LCR) (OTC Pink:LANRF) (FRA:6UF) (“Lancaster”), is pleased to announce the acquisition of a 100% interest in the Lac Iris Polymetallic Project in the James Bay region of Quebec. The Property lies just 5 km south of the significant Nisk and Lion discoveries by Power Metallic Inc. and adjacent to the Li-FT Power Ltd. Rupert Lithium Project. The Lac Iris acquisition expands Lancaster’s land position in the James Bay reg ...
Canstar Executes LOI with Khosla-Backed TerraAI, Supporting $11.5M Critical Metals Exploration JV
Globenewswire· 2025-06-12 11:00
Partnership unites AI technology, Silicon Valley venture backing, and Canstar’s high-grade VMS district holdings to accelerate exploration for critical metals in NewfoundlandTORNTO, June 12, 2025 (GLOBE NEWSWIRE) -- Canstar Resources Inc. (TSXV: ROX) (OTCPK: CSRNF) (“Canstar or the “Company”) has executed a letter of intent (“LOI”) for a strategic exploration partnership with TerraAI, an artificial intelligence company backed by Khosla Ventures, to deploy AI in support of Canstar’s $11.5 million exploration ...
Churchill Reports Very High-Grade Results of 35.1% and 29.7% Antimony and 14.4 g/t Gold at the Black Raven Past-Producers, Central Newfoundland
Globenewswire· 2025-06-12 11:00
Core Insights - Churchill Resources Inc. announced high-grade assay results from due-diligence sampling at the Frost Cove Antimony mine and Stewart Gold mine, with antimony grades of 35.1% and 29.7%, and gold grades of 14.4 g/t, exceeding laboratory detection limits [1][3] - The Frost Cove antimony veins have been traced over 800 meters on the surface, with historical samples indicating significant antimony concentrations, positioning it among the highest-grade antimony projects globally [3] - The company is initiating a summer surface exploration program to further investigate the Frost Cove and Stewart mines, including trenching, channel sampling, and systematic mapping [3] Company Overview - Churchill Resources focuses on strategic critical minerals in Canada, particularly at its Black Raven property, which includes the Frost Cove Antimony Mine and Stewart Gold-Antimony Mine [15] - The Black Raven Property consists of nine map-staked licenses covering 3,125 hectares, with a 4 km area of interest agreed upon with vendors [9] - The company has the potential for year-round exploration in a favorable jurisdiction, which could lead to rapid project development [3] Industry Context - Antimony is classified as a critical mineral, essential for national security and modern technology, with over 90% of global production controlled by China, Russia, and other non-Western jurisdictions [5] - Recent Chinese export restrictions have driven antimony prices to record levels exceeding $50,000 per tonne, highlighting its strategic importance for North American supply chains [5] - The demand for antimony is increasing due to its applications in military, flame retardants, and emerging energy storage technologies [5]
GT Resources - Copper - Palladium - Platinum ("PGE") Project Updates
Newsfile· 2025-06-12 10:30
Core Viewpoint - GT Resources Inc. is advancing its North Rock Project in Ontario, Canada, and the Läntinen Koillismaa (LK) Project in Finland, both of which focus on copper, palladium, and platinum resources, highlighting their potential to supply critical minerals to the European Union [1][3]. North Rock Project - The North Rock Project is located in Northwest Ontario and features excellent infrastructure, including a paved highway and railroad [4]. - The mineralization consists of copper-rich magmatic sulphide along a 13-kilometer basal contact of mafic and ultramafic volcanic rocks, with two main styles of mineralization: gabbro hosted and massive copper-palladium-rich footwall veins [4]. - The 2024 exploration program identified geophysical conductors adjacent to historic high-grade footwall vein intercepts, with notable results including up to 14.6 g/t Palladium, 0.5 g/t Platinum, 0.3 g/t Gold, and 2.3% Copper over 0.6 meters [5]. - Indicated resources include 1.1 million ounces of total precious metals (TMP) at 0.89 g/t, 111 million pounds of Copper at 0.13%, and 92 million pounds of Nickel at 0.11%, contained in 38.2 million tonnes [5]. - Inferred resources are estimated at 1.1 million ounces of TMP at 0.68 g/t, 173 million pounds of Copper at 0.16%, and 152 million pounds of Nickel at 0.14%, contained in 49.7 million tonnes [5]. LK Project - The LK Project in Finland is the company's most advanced project, featuring a substantial palladium-platinum-copper rich open pit resource, positioning it as a critical mineral source for the European Union [3][12]. - The project has a significant NI 43-101 compliant open pit resource and is strategically located to supply critical minerals, with Europe heavily reliant on imports [12]. - The Haukiaho Trend, a 17-kilometer long area, presents near-term expansion potential, with historic drilling indicating significant platinum and palladium grades [13]. - The mineral resource estimate includes indicated resources of 1.50 million tonnes at 0.61 g/t Palladium, 0.22 g/t Platinum, and 0.07 g/t Gold, and inferred resources of 1.26 million tonnes at 0.43 g/t Palladium, 0.17 g/t Platinum, and 0.09 g/t Gold [16].